TOP INVESTORS Orchard Street completes €1.1b of deals in 2015

Orchard Street Investment Management says it carried out a record 17 commercial real estate investments across the UK totalling £850 mln (€1.1 bn) last year.

The London-based commercial property investment manager said the culmination came at the end of 2015 when it sealed four acquisitions valued at £175 mln. The full-year activity lifted total funds under management to over £5 bn.

Orchard Street's performance data is being added to PropertyEU's Top Investors ranking by 2014 transaction volume, which is published in March this year.

The four distinct acquisitions completed in December 2015 were all on behalf of St. James’ Place and comprise the following:

- A portfolio of eight garden centres was purchased for £91 mln as a sale-and-leaseback agreement with Wyevale Garden Centres, who signed a new lease for a term of 25 years. The centres are located across the UK, in Gosforth, Altrincham, Nantwich, Leicester, Huntington, Braintree, Woking and Osterley.

- Wellbar Central, a prime freehold office building in the centre of Newcastle, was acquired for £40.1 mln from Moonglade Holdings, representing a net initial yield of 6.04%.

- The Exchange Buildings in Birmingham was purchased for £40.4 million from Aviva, reflecting a net initial yield of 4.47%.

- Completing the ownership of an island site on Briggate in Leeds, 8/9 Kirkgate was acquired for £2 mln, and brings the entire block under St. James’ Place’s ownership.

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TOP INVESTORS
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PropertyEU is currently compiling its ranking of Top Investors based on transaction volume in 2015. The ranking is based on a survey questionnaire sent to investors and reports such as above by investors on real estate acquisitions and disposal volumes.

Haven’t received a survey request? Please send information on total investment and disposal volumes, plus a list with details of top deals, to Deals Editor Cormac Mac Ruairi at research@propertyeu.info

The ranking is published in March 2016.